Wafrah opens board membership nominations

Wafrah for Industry & Development Co. opened the nomination process for board of directors’ membership for the upcoming 3-year term, starting August 11, 2020.

Applicants can submit an application for nomination until September 30, 2020, the company said in a statement to Tadawul.

The candidacy for membership of the board will be in accordance with the statutory controls, policies, standards and procedures approved by the company's general assembly.

Last month, Wafrah received a letter from some shareholders, owning around 7.14% of the company’s capital, requesting dismissal of the current board and its restructuring, according to data compiled by Argaam.